Loading...
HomeMy Public PortalAbout1993-023Member Mayor Anne Theis introduced the following resolution and moved its adoption: CITY OF MEDINA RESOLUTION NO. 93-23 RESOLUTION APPROVING TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 1-8 BE IT RESOLVED By the City Council (the "Council") of the City of Medina, Minnesota ( the "City") as follows: Section 1. Recitals. 1.01. On January 29, 1985, the City adopted a Development Program (the "Program") for Development District No. 1, pursuant to and in accordance with Minnesota Statutes, sections 469.124 through 469.134. 1.02. Development District No. 1 was expanded on March 4, 1986 and April 21, 1987 and the Program was also modified on April 3, 1990. 1.03 . Since 1985, the City has established seven tax increment financing districts within Development District No. 1 pursuant to the provisions of Minnesota Statutes, sections 469.174 through 469.179 (the "TIF Act") , although Tax Increment Financing District No. 1-7 has subsequently been decertified. 1.04. It has been proposed that the City establish Tax Increment Financing District No. 1-8 to assist a wholesale distribution project. 1.05. In furtherance thereof, the City has caused to be prepared a Plan for Tax Increment Financing District No. 1-8 describing the public improvements and expenditures which the City will fund within Development District No. 1 to assist the project. 1.06. The City has performed all actions required by law to be performed prior to the approval of the Plan, including notice of the hearing and transmittal of the Plan to Hennepin County and the Wayzata school district and holding a public hearing regarding the Plan upon such notice as is required by law. 1.07. The Plan is contained in a document entitled "Tax Increment Financing Plan, Tax Increment Financing District No. 1-8, City of Medina, Minnesota" dated May 4, 1993, which document is on file at city hall. 1.08. The Council has fully reviewed the contents of the Plan and has on May 4, 1993 and this date conducted a public hearing thereon at which the views of all interested persons were heard. RHB53077 ME230-48 Section 2. Findings Relating to the Establishment of Tax Increment Financing District No. 1-8. 2.01. It is found and determined that it is necessary and desirable for the sound and orderly development of the District and the City as a whole, and for the protection and preservation of the public health, safety, and general welfare, that the authority of the TIF Act be exercised by the City to establish Tax Increment Financing District No. 1-8. 2.02. It is found that establishing Tax Increment Financing District No. 1-8 will discourage Thorpe Distributing Company from moving its warehouse operations from Minnesota and will preserve and enhance the tax base of the state. 2.03. It is further found and determined, and it is the reasoned opinion of the City, that the wholesale distribution project proposed in the Plan for Tax Increment Financing District No. 1-8, could not reasonably be expected to occur solely through private investment within the reasonably foreseeable future and that therefore the use of tax increment financing is necessary to assist the project. 2.04. The expenditures proposed to be financed through tax increment financing are necessary to permit the City to realize the full potential of the District in terms of development intensity and tax base. 2.05. The Plan for Tax Increment Financing District No. 1-8 will afford maximum opportunity, consistent with the sound needs of the City as a whole, for the development of the tax increment financing district by private enterprise. 2.06. The Plan for Tax Increment Financing District No. 1-8 conforms to the general plans for development of the City as specified in the City's 1992 comprehensive plan amendment. 2.07. The Council has relied upon the opinions and recommendations of its staff, the planning commission and the personal knowledge of the members of the Council in reaching its conclusions regarding the Plan and the establishment of Tax Increment Financing District No. 1-8. 2.08. Tax Increment Financing District No. 1-8 is an economic development tax increment financing district within the meaning of Minnesota Statutes, section 469.174, subd. 12. Section 3. Approval of the Tax Increment Financing Plan; Establishment of Tax Increment Financing District No. 1-8. 3.01. The Plan for Tax Increment Financing District No. 1-8 is hereby approved. 3.02. Tax Increment Financing District No. 1-8 is hereby established. The boundaries of Tax Increment Financing District No. 1-8 are as described in the Plan and incorporated herein by reference. 3.03. The city clerk -treasurer is authorized and directed to transmit a certified copy of this resolution together with a certified copy of the Plan to the auditor of Hennepin county with a request that the original tax capacity of the property within Tax Increment Financing District No. 1-8 be certified to the City RHB53077 ME230-48 pursuant to section 469.177, Subd. 1 of the Tax Increment Financing Act and to file a copy of the Plan for Tax Increment Financing District No. 1-8 with the Minnesota department of revenue. 3.04. For purposes of Minnesota Statutes, chapter 473F, the City elects to be treated under Minnesota Statutes, § 469.177, subd. 3, clause (b) for Tax Increment Financing District No. 1-8. DATED: May 18 , 1993. ATTEST: Clerk -Treasurer y son it Anne E. Theis, Mayor The motion for the adoption of the foregoing resolution was duly seconded by member Philip Zietlow and upon vote being taken thereon, the following voted in favor thereof: Councilmembers John Ferris, James Johnson, Ann Thies, Zietlow and Mayor Theis. and the following voted against same: None. Whereupon said resolution was declared duly passed and adopted. RHB53077 ME230-48